Operation Choke Point 2.0 is the 'then they fight you' step.
I love #[1] 's smirk
If the work is done, all relays can verify it. One work per message, not per relay. The blastr relay would be a great place to put this worker service, to do the work before it gets broadcast wide.
The economics of it mean that'll change as the relays get wiser about it. There's no cost to doing those thingss.
This service is exactly that. A remote worker so your phone doesn't have to do it.
It's not that it's fixed. It's that if anyone tried to change it, the choice is upon the user what to enforce at their node. We aren't guaranteed that everyone will continue to enforce that fixed monetary policy, but I know I will. We know that anyone who has Bitcoin to transact with, such that they'd need a node to do it, is incentivized to maintain that policy.
He's not wrong, it can change. We have changed it. Bitcoin remains and also the change happened. The forks of Bitcoin run a changed monetary policy.
If Bitcoin started with 2% inflation and a viable fork changed that to 0%, it's still Bitcoin, but so is the original. Viable in remaining decentralized and trustless and secure (no big blocks, large and distributed community, hash rate to avoid 51% attacks).
In my mind, because of the incentives at the individual hodler level, users would go for the 0% one. If there were no other changes to that fork, it wins mathematically. Changing something doesn't make the whole concept of Bitcoin break down. You still have the power to choose to change or not, because blockchains don't force you to change. You get both ways, and the best choice wins.
I'm saying in the age of private money we're entering, monetary policy will compete over the long haul, 100s of years.
When all the governments of the world are targeting 2% inflation, a Bitcoin with 2% inflation would not be sufficiently different in this competition, once the governments upgrade their network tech stack.
A different Bitcoin without that 2% inflation would win the monetary policy competition, so yes, I would 'hold out' for a Bitcoin copy that has the right monetary policy.
What's fair about choosing miners, a specific industry, over the distributed self-interested of the Hodler generation?
Proof of Work is provably fair in spending energy to get the Bitcoin reward, but you're talking about the economy of the broad social community, not of the specific and limited Bitcoin transactional layer. Those are two totally different worlds and Bitcoin has no business being concerned or nvolved in the other layers.
TCP/IP does not concern itself with Twitter vs TikTok - It's neutral to all applications built upon it's base layer.
Scarcity is not optional. This is the Blockchain not Bitcoin argument. You're saying the important bit is that we have a decentralized blockchain managed money, whatever the rules are. There's a fair amount of economic theory involved in the design of Bitcoin that you're not understanding.
Why would Bitcoin, a base layer, globally neutral, want to promote debt and borrowing?
That would be choosing those today over those tomorrow, as your original post says. That is choosing the young, who are investing instead of saving like the old. That is choosing government and corporate and bank interests over the interests of the individuals of the world.
ok...
Since inflation is a tax, the question begs, what are the taxes for? You have onus to explain why a tax is needed and what it is that it is fixing, over not taxing? What economic situation are we punishing or promoting?
What does inflation do for our current financial system? Does it help anything? Anyone? The answer is yes. It helps banks and governments to borrow. You see, borrowing in a deflationary currency means your debts GROW as time goes on. If you borrow inflationary currency your debts shrink as time goes on.
You can see how the incentives would promote debt, paper Bitcoin, among governments and corporations, if we were to have a perpetual inflation in the unit of account.
yeah, it works, but it bugs me that it shows up differently than other clients where it says 'REPOST'. You can see the difference if you click the steak icon 'Raw' JSON.
or someone was helping him, and stole the Bitcoin
Gossip is faaaast.
It needs some work to make it a daily driver like image embedding and reposting support, among other things (global, zaps, etc)
I'm pretty sure this story is older than BCash, so it would have both.
nayibbukele@gob.sv/